I am facing this issue in May 2025. Not sure if it’s a software issue or hardware issue yet, But what I have observed is this issue is after the recent software update for android version 15 (security update 1 April 2025). So may be it’s this update which has caused the problem or like others mentioned it could be hardware because I tried squeezing the back of my phone really hard and guess what bluetooth was available 🤡.
If its a software issue we are good it can be fixed in next update hopefully. Else we are doomed!